RIOT trade ideas
Bear Flag $RIOT after huge gains from changing name 2 blockchainRiot went on a massive run after changing its name for the 5th time to Riot Blockchain to capitalize on crypto mania. was a $3 Stock less than a year ago and nothing has changed except its name and insanely overpaying for some crypto deals to keep the hype going. CEO cashed out a lot of shares and Pump and Dump investor Barry Honig that got them to change their name to Riot Blockchain has cashed out as well, at a much higher price than currently trading. Honig is a career Pump and Dump investor. The Wall street Journal wrote an article on him and his involvement in Riot. The company has also adjourned and postponed its last two shareholder meetings, changed accounting firms 4 times in the last couple years, and its headquarters are in a strip mall. They have 5 employees, valued at $142M, have $52,000 in revenue, and a net margin of -16,564%. Looking for that break to the downside and a short term test of $8.
RIOT Breakout Good news and following larger crypto market. Just broke downward trend and following moving averages up.
Riot looking good on 1 hourObviously Riot is still in a long term downtrend, but I'm seeing good signs of life here on the 1 hour. All Ichimoku indicators on 1 hour are bullish, Philakone EMA's are all bullish.
This may be a good alternative to actually buying Bitcoin, it seems to follow its price fairly nicely.
RIOT stock on good bull fondationWith positive news and above 9 ema on daily chart could go way on bull run
UptrendThis is cool chart. Divergence indicated trend reversal which happened. EMA uptrend confirmation(+). Now a bullish ascending triangle.
RIOT, crypto playRIOT's bounce off support lends toward interpreting the latest decline as an Elliot Wave 4. That's because one of the rules is that Wave 4 does not decline past Wave 1's peak.
If we zoomed in, Wave (v) of 3 in this chart also has 5 clean subwaves, with 4 testing the top of 1. Elliot Wave could be accurately mapping the emotions behind traders on this stock.
I will wait to see support gets tested again. Another day of Bitcoin consolidation could do it. With such a dangerous stock, I have to wait for better risk-reward. Feels good to be alive, doesn't it?
A gap fill tomorrow could also be bought with a tight stop.
Wedge formed, look for breakout / breakdownLooks like a wedge has formed on the chart. Look to see if it is able to break out of the wedge. If so I'd go long. If it breaks downward I'd stay away. I personally don't short so I can't advise to do that.
WATCHING MONDAYAll converging. Volume and activity dry up, if you see some nice volume in the premarket, could turn into a nice bounce in the open. These are all like, the "blue chips" of bitcoin stocks, the originals with the most volume.
RIOT - Buy for wave 5If we get a crypto recovery, this could present good long play in the stock/blockchain space.
RiotThis stock was pumped up due to "Blockchain" in it's name. It could retrace to the .786 if it cannot break above the .618. Expecting it to stay with the green on the Gann Fan (1/3) . It has weak institutional support and poor earnings and revenue. This is a highly speculative stock that's betting on the success of the Blockchain in it's name. If it is successful in it's investments in the Ethereum and Bitcoin blockchain technology and can monetize how it will benefit medical/healthcare/biotech then it could be a good risk. At this time I see no reason to speculate on this stock as the money would be better invested in GBTC.
Bears Salivating As Riot Blockchain Approaches Shorting LevelsThe bitcoin craze is showing signs of quieting down (I hope). This instrument (Riot stock) is showing significant selling pressure. If I was trading it, I would consider shorting it on a break below the Red indicator line.
The custom support resistance indicator lines show decent places to enter or exit.
The Blue indicator line serves as a Bullish Trend setter.
If your instrument closes above the Blue line, we think about going Long.
If your instrument closes below the Red line, we think about Shorting.
For Stocks, I prefer to use the Yellow line as my Bearish Trend setter.
-Alex
RIOT what will today bring?Strange formation of triangle at support/resistance line
All meeting for today's trading
RSI sideways at 50
Simon says: the price will go up
My target is $40 two weeks from now, mirroring the last 10 trading days
RIOT BUY Under 24.50Should rebound from profit taking, could open up into a good squeeze on the shorts.
RIOT: Wave a of 4 bounced off 20.02. Wave b of 4 retraced 50% ofwave a. Expect wave c of 4 to drop down to 20 to form wave 4 flat. Wave 5 at extension of 1.618 should take RIOT to $75
RIOT, blockchain tradeBouncing here on this trendline after correcting.
Bought a tiny position.
Ultra risky, I don't think the crypto correction is over by a long shot.
